DGAP-News: Corestate Capital Holding S.A. / Key word(s): Real Estate/Sustainability
Corestate publishes ESG Report: Goals for the year achieved, measurable commitment to more sustainable property management disclosed
Frankfurt, 24 August 2020. Corestate Capital Group S.A. (Corestate), a leading independent investment manager for real estate in Europe, has achieved and in some cases exceeded the targets it set itself for its ESG Strategy for the 2019 reporting period. The fully digital ESG Report published today provides an account of this and provides insights into the comprehensive integration of ESG into Corestate's business model. For example, in its energy and emissions balance, the company has reduced the CO2 emissions per square meter in its managed properties by more than 10%, eight percentage points more than the reduction target. Water consumption was even reduced by 12% instead of the 2% planned. Over the same period, energy consumption per square meter was reduced by 10%, twice as much as planned.
"The value creation of real estate investments can only be secured in the future by focusing specifically on ESG criteria. Our ESG Report illustrates our measurable commitment to a more sustainable real estate industry in the interests of our customers, the environment and society. We have defined quantifiable ESG targets for ourselves and are now successively delivering measurable results. We clearly support the EU Green Deal that includes plans for climate neutrality by 2050 and are doing everything we can to make our concrete contribution as well and as early as possible. However, our ambitions go beyond the ecological sphere. The environment, social issues and clear Corporate Governance are equally important for us to make a long-term positive contribution to society and the environment and to create sustainable value for our customers."
Digital recording of real estate consumption data
In order to be able to precisely measure, continuously analyze and optimize the ecological footprint of the managed properties, Corestate initiated the digitalization of its entire property portfolio last year. A large part of the portfolio's consumption data is already being continuously collected and analyzed on a central data platform. In addition, starting in 2020, the general electricity meters in all properties managed by Corestate in Germany will be gradually replaced by so-called smart meters. These intelligent measuring systems will provide the company with cumulative consumption data for all building areas in real time. "Digital consumption recording is indispensable for increasing building efficiency. If we manage to identify the potential for improvement in our Real Estate AuM using robust and detailed data, we will be even more effective in cutting unnecessary costs at the consumption and, of course, emissions level. In the interests of our investors, we keep the entire life cycle of their properties in view - from purchase and development to management," explained Justus Wiedemann, Group Sustainability Officer for Corestate Capital Group.
Diversity, public benefit and Corporate Governance
In addition to its ecological goals, Corestate also focuses on the areas of social affairs and Corporate Governance. The company has improved the structures and processes that specifically promote the advancement of women to management positions. Since last summer, the percentage of women in management positions has already increased by just under 7%. At that time, the company had set itself the goal of increasing the ratio of female managers by 5% annually. However, diversity encompasses much more than gender. Corestate is therefore paying closer attention to all aspects of diversity. By establishing the Corestate Foundation at the end of 2019, the company is supporting local projects, associations and organizations that work for children and young people. Kinderschutzbund Frankfurt e.V. is just one of the projects the company supports.
For Corestate, clear and transparent Corporate Governance is the basis of every business relationship. Annual compliance and governance training courses for employees and managers, an expanded Code of Conduct and a declaration on ethics are therefore central and recurring elements. In its 2020 ESG Report, Corestate invited many experts to examine the topic of ESG from their respective perspectives. Representatives from inside and outside the company were interviewed. The complete report is available online here.
CORESTATE Capital Holding S.A. (CORESTATE) is an investment manager and co-investor with more than EUR 28 billion in assets under management. As a fully integrated real estate platform, CORESTATE offers its clients combined expertise in the areas of investment and fund management as well as real estate management services. The company operates as a respected business partner of institutional clients and wealthy private investors internationally. CORESTATE is headquartered in Luxembourg and has 42 offices, e.g. in Frankfurt, London, Paris, Madrid, Zurich and Amsterdam. The company employs around 800 people and is listed in the Prime Standard (SDAX) of the Frankfurt Stock Exchange. Further information may be found at www.corestate-capital.com.
This press release may contain forward-looking statements based on current assumptions and forecasts made by our management. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of our company and the estimates given here. These factors include those discussed in our public reports, which are available on our website at www.corestate-capital.com. The company assumes no liability whatsoever to update these forward-looking statements or to conform them to future events or developments. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof.
|Company:||Corestate Capital Holding S.A.|
|4, Rue Jean Monnet|
|Phone:||+49 69 3535630-107|
|Fax:||+49 69 3535630-29|
|Listed:||Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart, Tradegate Exchange|
|EQS News ID:||1121947|
|End of News||DGAP News Service|